Summary:
Chennai: Reserve Bank of India (RBI) has announced through a notification that Fino Payments Bank has been included in the Second Schedule to the Reserve Bank of India Act 1934. The scheduled commercial bank (also called as scheduled bank) status allows Fino Payments Bank to enhance its banking position in the treasury and participation in LAF (Liquidity Facility) window as per the RBI. It also helps the bank strengthen its business proposition on liabilities generation. Rishi Gupta MD and CEO Fino said “We are extremely thankful to the central bank for the inclusion of Finoin the second schedule.”.